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Oil sees choppy trade ahead of inventory data

MarketWatch -- U.S. oil futures edged higher in choppy electronic trade Wednesday as investors looked ahead to weekly inventory reports.

Crude oil for March delivery were little changed, gaining 2 cents to trade at $96.68 a barrel, ahead of the contract’s expiration at the end of the global day.

The moves follow March crude’s 80-cent advance in Tuesday’s floor session on the New York Mercantile Exchange. Those gains came in the wake of upbeat German data, and as the S&P 500 rallied to a new five-year high. Read: Oil futures end higher, back above $96 a barrel.

But analysts at Citi Futures said that the market could be ignoring bearish supply fundamentals.

“Focus on the S&P rally and the intermediate-term rally in crude-oil prices, for example, and one might miss that U.S. crude-oil production has ...

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Submitted Feb 20, 2013 By: brbaritone

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clermont40miles Champion Author Cincinnati Posts:10,576 Points:1,772,940 Joined:Apr 2008	Message Posted: Feb 20, 2013 11:39:14 PM Ignore clermont40miles Report Abuse Good to see price of oil and gasoline drop today. Needs to keep dropping.
toadNY Champion Author Albany Posts:7,047 Points:1,514,125 Joined:Apr 2008	Message Posted: Feb 20, 2013 11:34:21 PM Ignore toadNY Report Abuse Gas up here .35 cents last 24 days. This recession under obamas watch, will it still be Bush's fault?
edamp04 Champion Author Fort Worth Posts:4,588 Points:839,505 Joined:Nov 2010	Message Posted: Feb 20, 2013 11:25:29 PM Ignore edamp04 Report Abuse Way too high
monarch57 Champion Author British Columbia Posts:1,628 Points:135,710 Joined:Nov 2008	Message Posted: Feb 20, 2013 11:25:13 PM Ignore monarch57 Report Abuse Unless oil goes down we will be heading into a serious recession. Gas went up 21 cents a liter in the last 10 days.
wayoung56 Champion Author Alabama Posts:2,805 Points:819,310 Joined:Oct 2006	Message Posted: Feb 20, 2013 11:21:35 PM Ignore wayoung56 Report Abuse Sounds more like a deepening recession instead of a faux economic recovery is in store for us...
milespergallon Champion Author Illinois Posts:9,749 Points:1,909,335 Joined:Feb 2007	Message Posted: Feb 20, 2013 11:20:39 PM Ignore milespergallon Report Abuse Make it easy for everyone. Eliminate the specu-traitors and prices will return the the economic phase of supply and demand. As in really drop!
mstearno Champion Author Dayton Posts:8,071 Points:1,732,210 Joined:Jan 2008	Message Posted: Feb 20, 2013 11:19:53 PM Ignore mstearno Report Abuse recession again
MadDogUSMC Champion Author Jacksonville Posts:20,307 Points:2,872,665 Joined:Apr 2005	Message Posted: Feb 20, 2013 11:17:39 PM Ignore MadDogUSMC Report Abuse Meanwhile, the greedy bunch of aholes is driving the pump prices up! It's gone up $0.40 here since Friday!
geoutpb Champion Author Midland Odessa Posts:4,628 Points:1,067,285 Joined:Dec 2006	Message Posted: Feb 20, 2013 11:17:15 PM Ignore geoutpb Report Abuse This can not be good.
Robert44 Champion Author Columbus Posts:3,580 Points:1,220,915 Joined:Mar 2004	Message Posted: Feb 20, 2013 11:13:49 PM Ignore Robert44 Report Abuse Lukus : we need speculators to help drive price back down!!!!
bvrbill Champion Author Eugene Posts:3,223 Points:519,600 Joined:Jul 2011	Message Posted: Feb 20, 2013 11:08:05 PM Ignore bvrbill Report Abuse Prices still rising at the pump.
FlyNFool Champion Author South Carolina Posts:8,244 Points:1,685,950 Joined:Aug 2008	Message Posted: Feb 20, 2013 11:05:34 PM Ignore FlyNFool Report Abuse Won't make a difference.
Lukus Champion Author Halifax Posts:8,288 Points:1,675,505 Joined:Nov 2007	Message Posted: Feb 20, 2013 11:03:21 PM Ignore Lukus Report Abuse Obama should be shutting down Wall Street's access to the Futures Market in oil. Maybe it will slow the up prices of the spectulators.
30mpg80 Champion Author Lexington Posts:10,035 Points:1,487,855 Joined:Nov 2008	Message Posted: Feb 20, 2013 10:59:30 PM Ignore 30mpg80 Report Abuse Whatever the speculators want, they will make it happen.
MG_Sputnik Champion Author Philadelphia Posts:7,310 Points:1,961,380 Joined:Apr 2006	Message Posted: Feb 20, 2013 10:56:55 PM Ignore MG_Sputnik Report Abuse Inventory data. What a bunch of major league BS!
GNo1 All-Star Author Nashville Posts:930 Points:383,655 Joined:May 2011	Message Posted: Feb 20, 2013 10:50:02 PM Ignore GNo1 Report Abuse frack and pump. The answer.
txkrb Champion Author Texas Posts:1,563 Points:639,640 Joined:May 2011	Message Posted: Feb 20, 2013 10:42:29 PM Ignore txkrb Report Abuse Actually oil was down over $2 today Article was posted before afternoon trading session Full article has been corrected
mikaye Champion Author Cleveland Posts:3,834 Points:865,410 Joined:Jun 2010	Message Posted: Feb 20, 2013 10:37:41 PM Ignore mikaye Report Abuse inventory means nothing gas prices rise when inventory is high or low it depends on how much they are gouging
abcdMA Champion Author Worcester Posts:7,927 Points:1,575,955 Joined:Nov 2008	Message Posted: Feb 20, 2013 10:36:47 PM Ignore abcdMA Report Abuse Oh well, tomorrow will tell
Quick68 Champion Author Columbus Posts:8,228 Points:1,226,775 Joined:Dec 2009	Message Posted: Feb 20, 2013 10:31:37 PM Ignore Quick68 Report Abuse Inventory on oil is BS. As long as we have lawmakers in Washington that is trying their best to turn our country into capitalist country the price of gas will keep going up.
N4PIP All-Star Author Miami Posts:906 Points:420,275 Joined:Jan 2012	Message Posted: Feb 20, 2013 10:29:21 PM Ignore N4PIP Report Abuse "bearish supply"? That's a joke. The trading prices have little to do with supply and demand. Prices should be significantly lower because of reduced demand.
walkingtall Champion Author Toronto Posts:3,999 Points:1,121,680 Joined:Nov 2004	Message Posted: Feb 20, 2013 10:28:58 PM Ignore walkingtall Report Abuse It doesn't seem to matter what occurs prices just go up.
drz614 Champion Author Harrisburg Posts:2,304 Points:598,595 Joined:Aug 2011	Message Posted: Feb 20, 2013 10:28:44 PM Ignore drz614 Report Abuse the current resident in the wh will not be happy until gas hits 5+ per gallon. thank those u voted 4 him
fullauto Champion Author Reading Posts:5,325 Points:1,473,040 Joined:Apr 2008	Message Posted: Feb 20, 2013 10:19:52 PM Ignore fullauto Report Abuse yep
grt197 All-Star Author Illinois Posts:578 Points:126,560 Joined:Jan 2013	Message Posted: Feb 20, 2013 10:12:08 PM Ignore grt197 Report Abuse ok got it
iamforiu Champion Author Indiana Posts:3,575 Points:711,740 Joined:May 2011	Message Posted: Feb 20, 2013 10:11:40 PM Ignore iamforiu Report Abuse ok
ericbcire Champion Author Nevada Posts:4,525 Points:1,268,310 Joined:Aug 2009	Message Posted: Feb 20, 2013 10:10:20 PM Ignore ericbcire Report Abuse Prices must drop or the economy will worsen.
prassu2012 All-Star Author Illinois Posts:681 Points:148,920 Joined:Dec 2012	Message Posted: Feb 20, 2013 10:05:06 PM Ignore prassu2012 Report Abuse may be effects current data
theschmuck Champion Author Michigan Posts:2,922 Points:1,512,600 Joined:Mar 2007	Message Posted: Feb 20, 2013 10:04:47 PM Ignore theschmuck Report Abuse If it continues to be choppy, wear your seatbelts.
satrn38mpg Champion Author Raleigh Posts:5,072 Points:1,054,015 Joined:Sep 2009	Message Posted: Feb 20, 2013 10:03:01 PM Ignore satrn38mpg Report Abuse just more of the same old bs >>
AliasBob Rookie Author California Posts:7 Points:8,240 Joined:Mar 2012	Message Posted: Feb 20, 2013 10:02:59 PM Ignore AliasBob Report Abuse This does not surprise me at all. I watched the prices at two stations here today go up .10 cents in 2 hours.
Darwin00 All-Star Author Mississippi Posts:830 Points:271,155 Joined:Dec 2010	Message Posted: Feb 20, 2013 10:01:55 PM Ignore Darwin00 Report Abuse Ok
HailstormCA Champion Author San Diego Posts:7,855 Points:1,472,020 Joined:Nov 2008	Message Posted: Feb 20, 2013 10:01:09 PM Ignore HailstormCA Report Abuse Ho ho ho. There's mice in the bread box.
KhelbenArunson Champion Author Michigan Posts:4,446 Points:718,615 Joined:Apr 2008	Message Posted: Feb 20, 2013 10:00:26 PM Ignore KhelbenArunson Report Abuse It is going to be real choppy once we find a viable alternative.
GManCo Champion Author Colorado Springs Posts:4,996 Points:951,590 Joined:Sep 2010	Message Posted: Feb 20, 2013 10:00:23 PM Ignore GManCo Report Abuse It is making me money!!!
SandeeC Champion Author Ontario Posts:2,993 Points:460,705 Joined:Apr 2011	Message Posted: Feb 20, 2013 9:57:58 PM Ignore SandeeC Report Abuse Nothing new.
IUVidiot Champion Author Indiana Posts:3,590 Points:709,435 Joined:Jun 2011	Message Posted: Feb 20, 2013 9:54:46 PM Ignore IUVidiot Report Abuse politics
mrbee Champion Author Little Rock Posts:3,759 Points:2,466,805 Joined:Oct 2005	Message Posted: Feb 20, 2013 9:51:11 PM Ignore mrbee Report Abuse More like, up, up, up.
Blue48 Champion Author Illinois Posts:7,310 Points:1,638,920 Joined:Feb 2007	Message Posted: Feb 20, 2013 9:49:53 PM Ignore Blue48 Report Abuse UP..DOWN..UP..DOWN!
esquared Champion Author Oklahoma City Posts:8,072 Points:1,971,085 Joined:Jan 2006	Message Posted: Feb 20, 2013 9:49:52 PM Ignore esquared Report Abuse Require speculators to take delivery -- now!
PoohMcGoo Champion Author Alabama Posts:3,067 Points:800,885 Joined:Dec 2010	Message Posted: Feb 20, 2013 9:49:48 PM Ignore PoohMcGoo Report Abuse Ok
AKmailman Champion Author Alaska Posts:5,638 Points:1,558,540 Joined:Jul 2004	Message Posted: Feb 20, 2013 9:49:18 PM Ignore AKmailman Report Abuse When will we learn that the price of oil and the price of ga are not related ?
mrsclaus2013 Rookie Author Birmingham Posts:15 Points:33,370 Joined:Jan 2013	Message Posted: Feb 20, 2013 9:47:08 PM Ignore mrsclaus2013 Report Abuse dang
RBob Champion Author Portland Posts:3,374 Points:2,347,875 Joined:May 2004	Message Posted: Feb 20, 2013 9:43:44 PM Ignore RBob Report Abuse Speculators on exploration, speculators on drilling, speculators on crude supplies, speculators on pipelines, speculators on storage of crude, speculators on the refined product... And we wonder why the price is so high..??
lowspeed All-Star Author Akron Posts:726 Points:201,280 Joined:Aug 2008	Message Posted: Feb 20, 2013 9:41:55 PM Ignore lowspeed Report Abuse It seems as if everything makes fuel prices rise
dollarwatcher Champion Author Wisconsin Posts:7,945 Points:1,535,970 Joined:Mar 2007	Message Posted: Feb 20, 2013 9:41:15 PM Ignore dollarwatcher Report Abuse Just makes ya wanna puke don't it.
hcivic Champion Author Virginia Posts:3,854 Points:2,265,715 Joined:Aug 2005	Message Posted: Feb 20, 2013 9:40:40 PM Ignore hcivic Report Abuse lookin to go up more in March
scubadaniel Champion Author Dayton Posts:1,426 Points:692,895 Joined:Jan 2011	Message Posted: Feb 20, 2013 9:40:28 PM Ignore scubadaniel Report Abuse This administration has screwed this economy in so many way, it doesn't seem to matter what we do.
knifeman9 Champion Author North Carolina Posts:5,685 Points:1,488,365 Joined:Oct 2008	Message Posted: Feb 20, 2013 9:39:39 PM Ignore knifeman9 Report Abuse Something needs to be done to end this ...trade? How about price manipulation
bonzoonfmb Champion Author Florida Posts:1,787 Points:645,560 Joined:Feb 2010	Message Posted: Feb 20, 2013 9:34:07 PM Ignore bonzoonfmb Report Abuse Gas prices are too high.